Lyondell puts Texas methanol plant on allocation for June - traders

09 June 2010 20:30  [Source: ICIS news]

HOUSTON (ICIS news)--LyondellBasell subsidiary Millennium Petrochemical has put its Texas methanol plant on 40% sales allocation for June due to production problems, traders said on Wednesday.

Officials at Millennium and LyondellBasell did not immediately respond to calls regarding the status of the plant in LaPorte, Texas.

Market sources said most of the methanol produced at the 600,000 tonne/year LaPorte, Texas, plant is used internally by Millennium, which also produces downstream products acetic acid and vinyl acetate monomer (VAM).

"It shouldn't affect the industry," a buyer said of Millennium's methanol allocation.

US Gulf methanol spot prices have jumped 40% in the past month since the early May shutdown of the 1.7m tonne/year Atlas methanol plant in Trinidad. Majority owner Methanex said this week that the plant was on track for a mid-June restart.

The June US methanol contract barge range was assessed by ICIS pricing at 105-107 cents/gal, up from 99-100 cents/gal for May.

($1 = €0.84)

For more on methanol visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Lane Kelley
+1 713 525 2653

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